Can I only take out a maintenance loan?
I'm in Year 13 and will soon be applying for 2024 student finance, and I'm currently trying to decide what I should do- my dad has offered to pay my tuition fees, so I was wondering whether I would then be able to take out just a maintenance loan?
(edited 2 months ago)
If you apply for a maintenance loan and your household income is above around £65k per year, then you would only be eligible for the minimum maintenance loan (approx £4,600 per year living away from home outside London). If this would apply to you, then it might make more sense for you to apply for both the tuition and maintenance fee loans and ask your parents to pay accommodation fees instead.
The following article is worth a read as it weighs up the pros and cons of not taking the loans:
https://www.moneysavingexpert.com/students/should-i-get-student-loan/
The following article is worth a read as it weighs up the pros and cons of not taking the loans:
https://www.moneysavingexpert.com/students/should-i-get-student-loan/
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